Economy

UK retailers deliver surprise growth as tech sales buoyed by iPhone release

Sales at UK retailers increased for the fourth consecutive month as the release of the iPhone 17 boosted tech sales, according to official figures.

Meanwhile, the retail sector was also buoyed by strong demand for gold at online jewellers amid a rise in the value of the precious metal.

The Office for National Statistics (ONS) said the total volume of retail sales is estimated to have risen by 0.5% in September.

It said this followed a 0.6% increase, which had been revised higher by the ONS.

The latest reading was a surprise increase after analysts predicted a decline of 0.2% for the month.

The figures are therefore a positive signal in the face of concerns over a potential cooling in the UK economy.

It highlighted that retail sales volumes improved to their highest total level since July 2022, strengthened by online retailers.

Non-store retail, which predominantly covers online firms, rose by 1.3% for the month to strike the highest level since February 2022.

It said that online jewellers helped contribute to the increase, as brands reported a “strong demand for gold” amid a continued rise in gold prices in recent months.

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  • Source of information and images “independent”

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